Who is buying real estate and raising prices??

Israelis have become the most active buyers of real estate in Greece. The majority of mass real estate purchases by foreign individuals and investors is driving the rise in property prices in Greece, which has been observed in recent years. Increased demand, both through the "golden visa" and regular channels, has led to a rise in property prices that experts predict will continue.

"chatgpt_result": "According to the survey by RE/MAX Greece, one of the largest real estate brokerage companies in the country with over1000 real estate consultants, every second foreign property buyer preferred Greece as an investment destination, while every fifth buyer purchased property for residential purposes. In recent years, a significant percentage of foreign buyers have chosen Greece to acquire residential properties, both for tourism and permanent residence after retirement. The qualitative characteristics of this study are also interesting, describing the profile of foreign buyers in Greece, including their nationality, age, cost, and type of properties chosen."

"The most popular nationalities among buyers"

"According to the analysis of data for2022, Israel ranks first among the five most popular nationalities of foreign buyers. A quarter of the buyers are in the age group of40 to50 years. Three out of ten selected properties have a value of up to100,000 euros. The most popular choice, accounting for46%, is apartments. Israel ranks first among the five most popular nationalities of foreign buyers in Greece, followed by China and Germany in second and third place, respectively. The top five is completed by Bulgaria and Turkey. There were also purchases from other countries, including major providers in the EU: Italy, France, the Netherlands, and the United Kingdom, as well as countries outside the EU.

Age of buyers

According to data from the RE/MAX Greece network, the profile of foreignreal estate buyers in Greece is characterized by two age groups: the first group, with the highest percentage, is aged between 41 and 50 years, making up 37%, while the second group, aged between 51 and 60 years, accounts for 36%. Foreignreal estate buyers over 61 years old represent 16% of the total, while those under 40 years old make up only 11 out of 100.

Selected items and their prices

According to detailed statistics on the properties chosen by foreign buyers: in 33 out of 100 cases, their cost was less than 100,000 euros. Properties priced between 200,001 and 300,000 euros make up 28%. The same percentage applies to properties priced between 100,001 and 200,000 euros (27%). More expensive properties, costing over 300,001 euros, were preferred to a lesser extent, accounting for 12% of the total. Apartments are the most popular choice among foreign buyers at 46%, followed by private houses at 24%. Townhouses make up 10%, land plots 8%, and building plots 7%, while commercial real estate seems to be of little interest, as it accounts for only 5% of the total transactions that took place.

Source:sofokleousin.gr